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Governmental Entity Lease <br /> <br />Account: <br /> <br />If Lessee so desires, subject to compliance with applicable regulations under the Internal Revenue Code, <br />including, but not limited to arbitrage regulations, the proceeds of the Lease may be deposited in an <br />escrow acceptable to Lessor, and disbursements made therefrom to pay for Equipment upon the execution <br />and delivery of an acceptance certificate (and related documents) by Lessee and approved by Lessor. <br /> <br />Documents: <br /> <br />Lease documents in form and substance satisfactory to Lessor must be executed and delivered. If Lessor <br />requests, Lessee will also furnish duly executed landlord and mortgagee waivers and supporting <br />information. Lessee will also provide board resolutions, incumbency certificates and other <br />documentation required by Lessor. <br /> <br />Opinion of <br />Counsel: <br /> <br />Lessoe's counsel shall deliver an opinion to Lessor at closing in form and substance satisfactory to <br />Lessor. The opinion of counsel will provide that: <br /> <br />(a) <br /> <br />counsel has examined, approved and attached the text of the enabling resolution of Lessec's <br />governing body-anthorizing Lessee to enter into the Lease. <br /> <br />Lessor will be responsible for its own costs of legal review and documentation, and Lessee will be <br />responsible for its own costs of legal review and documentation in the draining and execution of the <br />Lease. <br /> <br />Credit Due <br />Dilinence: <br /> <br />In order to complete its credit due diligence, BankAmerica Leasing Credit Administration will need you <br />to provide: <br /> Three years of your most recent audited financial statements <br /> Most recent fiscal year's Budget <br /> Insurance Certificate <br /> <br />Utilization Period <br />~: The latest date for any funding will be December 31, 2005. <br /> <br /> <br />